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Articles
Market Analysis 29 May – 02 June 2023
XAUUSD Analysis 29 May – 02 June 2023 Forecasting the price of gold in the short term, the price may move down to test the 1915 support area, which is the area where the price is expected to bounce back. and if the price can stand without falling further Price may have a sideways correction before rallying to test the 1960 resistance a...
May 30, 2023Read More >The Week ahead – Debt ceiling deal, NFP and Aussie CPI – charts to watch
News over the weekend of a tentative debt ceiling deal had been achieved should see investors in the week ahead return to their usual programming of trying to predict the next move from the Federal Reserve, which this week’s jobs data will be a critical component. Late Saturday, the White House and Republican negotiators announced a debt ceili...
May 29, 2023Read More >US stocks finished mixed – Nasdaq surges on NVDA earnings boost – Gold down again
US indices finished mixed in Thursdays session two up, two down though with an overall positive bias on debt ceiling progress and strong economic data. The Nasdaq easily outperformed as a huge up day from Nvidia (NVDA + 24%) after a positive earnings report saw the tech heavy index surge over 200 points. Strong data was also released...
May 26, 2023Read More >US stocks sink as debt ceiling impasse continues to weigh on investors, RBNZ rate decision today
Major US indices were lower on Tuesday, extending to the downside through the session, as debt limit negotiations extend further to the edge after little progress was made in further talks between the White House and Republican negotiators. The Nasdaq slumped 160 points 1.26% as the risk off tone and tightening economic conditions hit growth stocks...
May 24, 2023Read More >Market Analysis 22-26 May 2023
XAUUSD Analysis 22 – 26 May 2023 The gold price outlook is generally positive in the medium term. Although the close of last week's sell pressure bar indicates a significant loss of buying momentum, due to the sell-off during the week but the price is still moving above the 1960 support. After the adjustment has come down to test, the ...
May 23, 2023Read More >AU and Asian markets open in the green after mixed lead in from Wall St
The ASX200, Nikkei and Hang Seng are all looking to open in the positive after a mostly positive lead from Wall St with all major US indices but the Dow eking out gains despite ongoing debt ceiling headwinds and some hawkish Fed speak. The Russell 2000 saw strong advances, aided by a bounce in regional banks with PacWest (PACW) surging after anno...
May 23, 2023Read More >The Week Ahead – RBNZ, UK and US inflation and debt ceiling impasse headline risk events
With Junes FOMC policy meeting still up in the air as far as markets are pricing in, FOMC minutes and US PCE core inflation figures (reportedly the Fed’s favoured measure) released this week will be closely watched and likely go a long way to settling market participants mind as to what the next move from the fed will be. From the UK inflation da...
May 22, 2023Read More >US equities rally, dollar and yields surge on data and hawkish Fed speak
US indices were firmly higher on Thursday with a Big Tech bias, with the Nasdaq outperforming , rallying 1.5%, lifted by the likes of Nvidia (NVDA), Amazon (AMZN), and particularly Netflix (NFLX), which saw near double-digit strength after a positive ad tier subscriber update. Strong data releases (good news is good news now?) and a more haw...
May 19, 2023Read More >AUD analysis – waiting for a catalyst – range trading and mean reversion opportunities
The Aussie dollar has been fairly directionless since late February with it seemingly waiting for a catalyst to break it’s ranges and take the next leg up or down, data this week has failed to provide that. This opens up a couple of very good opportunities for traders, range trading the AUDUSD and mean reversion trades on the AUDNZD. Starting ...
May 18, 2023Read More >Market Analysis 15-19 May 2023
XAUUSD Analysis 8 – 12 May 2023 The gold price outlook is generally positive in the medium term. Although the close of last week's sell pressure bar indicates a significant loss of buying momentum, due to the sell-off during the week but the price is still moving above the 2000 support level after a rebound to test and then rebound. It...
May 18, 2023Read More >US stocks surge on bounce in regional banks and debt ceiling optimism
Major US indices finished solidly in the green in a broad rally as risk appetite returned to the market amid optimism debt ceiling negotiations and a reassuring update from regional bank Western Alliance (WAL) which reported growth in its deposits. The Dow was up over 400 points, or 1.24% while the Russell 2000 outperformed, up over 2%, flying on a...
May 18, 2023Read More >Target beats estimates – the stock is up
Target Corporation (NYSE: TGT) announced Q1 financial results before the market open in the US today. The company posted solid results beating revenue and earnings per share (EPS) estimates. Company overview Founded: June 24, 1902 Headquarters: Target Plaza Minneapolis, Minnesota, United States Number of employees: 440,000 (2023) ...
May 18, 2023Read More >US equities finish in the red after retail sales miss and ongoing debt ceiling concerns
US stocks finished mostly lower in what was a risk-off session amid mixed data releases from the US and ongoing debt ceiling concerns weighing on risk markets. A lackluster forecast from retail giant (and Dow component) Home Depot (HD) also didn’t help. The Dow led losses, ending up down over 300 points while the Nasdaq was the least worst of ...
May 17, 2023Read More >US stocks finish in the green on weak data and regional bank short squeeze
Major US indices finished broadly higher after weak Empire State manufacturing figures fed into the “bad news is good news” for equities narrative, and a surge higher in regional bank stocks allayed fears of further crises in that sector in the short term. The Russell 2000, being the home of most of these mid-sized banks outperformed, finishing...
May 16, 2023Read More >The Week ahead – US retail sales, jobs data from UK and Australia, RBA minutes.
Global markets enter the 3rd week of May against the backdrop of rising market concern regarding the ongoing US debt ceiling impasse as well as ongoing risks in the US banking system, both of which dampening risk sentiment and seeing markets rangebound as they await a solid catalyst to get moving. US 1 year Credit Default Swap price spiking on d...
May 15, 2023Read More >
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